Hi both can be manipulated in the local group policy on the machine. Bear in mind this wint effect the administrator account but other guest accounts. This guide is applicable to windows xp aswell as 7.

Why do you want to take on such task when simply enabling guest account will do, they cant install or remove programs through get account, if you are worried about bios settings simply set the password in bios, it becomes inaccessible unless they steal the computer.

Blocking cd n usb will render the computer useless if there are files they need to access from these devices.

but if its only for internet access only then, do what Roshan said the local policy will take care of that.

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